Global Pulse

分类： business

  • Guangdong targets ‘smart’ industries

    Guangdong targets ‘smart’ industries

    Guangdong Province, China’s economic powerhouse, has unveiled a comprehensive strategy to accelerate its transition into a global smart manufacturing hub through the deep integration of artificial intelligence and advanced technologies. The initiative was formally announced by Huang Kunming, Provincial Party Secretary and member of the Political Bureau of the Communist Party of China Central Committee, during the Guangdong Provincial High-quality Development Conference in Guangzhou on Tuesday.

    The strategic vision centers on creating synergistic development between manufacturing and service sectors, leveraging the province’s substantial advantages in digital infrastructure, massive data resources, and diverse application scenarios. With a population exceeding 129 million and a regional GDP of 14.58 trillion yuan in 2025, maintaining its position as China’s top provincial economy for 37 consecutive years, Guangdong aims to achieve a GDP of approximately 25.8 trillion yuan by 2035, reaching development levels comparable to moderately developed regions.

    Huang emphasized that embracing the intelligent era represents a crucial opportunity to gain future competitive advantages. “Promoting coordinated development between manufacturing and service industries is essential for harnessing technological advancement and securing strategic initiative,” he stated. This integration has already demonstrated multiplicative growth effects in both manufacturing capacity and service efficiency, significantly advancing new quality productive forces.

    The provincial strategy includes cultivating multiple trillion-yuan and hundred-billion-yuan industrial clusters through scaling traditional competitive industries, strengthening emerging sectors, and fostering new industrial pillars via integrated cluster development. Major technology companies have responded enthusiastically to this vision.

    Huawei Technologies Chairman Liang Hua committed to expanding research investment and addressing computing power demands through comprehensive product solutions. The company will establish an open AI ecosystem centered on its Ascend AI chip series while developing industry-specific agent platforms to support partners in enabling intelligent transformation across societal sectors.

    Shein Founder Xu Yangtian demonstrated how deep manufacturing-service integration has shaped the company’s global fashion leadership. By leveraging cross-border e-commerce models and data-driven insights, Shein has created a dual competitive advantage of “speed plus precision.” The company pledged over 10 billion yuan to establish intelligent supply chain headquarters in Guangdong, collaborating to build world-class fashion industrial clusters and promote “Made with Intelligence in Guangdong” as a global benchmark.

    The conference gathered more than 200 influential entrepreneurs, business representatives, and over 60 experts and scholars, signaling broad consensus for Guangdong’s intelligent industrial transformation.

  • Will UAE petrol prices rise in March as oil gains due to US-Iran tensions?

    Will UAE petrol prices rise in March as oil gains due to US-Iran tensions?

    Escalating geopolitical friction between the United States and Iran continues to exert significant pressure on global oil markets, creating substantial volatility that may impact fuel prices in the United Arab Emirates for March 2026. The ongoing tensions have injected a considerable risk premium into crude valuations, with Brent benchmark briefly surpassing the $71 per barrel threshold during February trading sessions.

    Market analysts observe that the current climate of uncertainty has created an unusually volatile trading environment. As of Tuesday evening, Brent crude traded at $66.31 per barrel while West Texas Intermediate reached $71.38. The monthly average for Brent stood at $68.90 per barrel, marking a noticeable increase from January’s average of $63.47.

    Norbert Rücker, Head of Economics and Next Generation Research at Julius Baer, provided critical insight: ‘The US-Iran conflict dominates oil market dynamics, with prices currently inflated by substantial geopolitical risk premiums. While military escalation appears increasingly probable, historical precedent suggests such developments don’t automatically translate to oil supply disruptions.’

    Rücker further emphasized the market’s current resilience: ‘Today’s oil landscape demonstrates remarkable supply stability, supported by ample storage capacities, production exceeding consumption patterns, and significant spare output capacity. Although uncertainty persists regarding whether prices will peak in the high $70s or high $80s range, we anticipate risk premiums diminishing with prices returning below $60 by mid-year.’

    The strategic significance of the Strait of Hormuz adds another dimension to market concerns. Recent temporary closures by Iranian authorities caused insurance premiums for this critical shipping channel to increase substantially. Daniela Hathorn, Senior Market Analyst at Capital.com, noted: ‘Iran’s geographical position adjacent to the Strait—through which approximately 20% of global oil shipments pass—means any sustained disruption could have profound consequences for energy markets worldwide.’

    Despite February’s price reduction of 8-9 fils per liter for UAE consumers, bringing Super 98, Special 95 and E-Plus 91 to Dh2.45, Dh2.33 and Dh2.26 respectively, market watchers remain cautious about March pricing. The complex interplay between geopolitical tensions and market fundamentals continues to create an unpredictable pricing environment for both crude and refined petroleum products.

  • Australian sharemarket soars to new record high as tech stocks rebound, Woolworths hits 17-month high

    Australian sharemarket soars to new record high as tech stocks rebound, Woolworths hits 17-month high

    Australia’s financial markets achieved a historic milestone on Wednesday as the S&P/ASX 200 index surged to an unprecedented peak, closing at 9,128.3 points with a remarkable 1.18% gain. This performance eclipsed previous records set in October, demonstrating remarkable resilience against recent inflationary pressures.

    The technology sector emerged as the primary catalyst for this rally, posting an impressive 5.9% advancement despite widespread concerns about artificial intelligence disruption. This substantial growth was complemented by a robust 5.7% upswing in consumer staples, with only three of the eleven market sectors experiencing declines during the trading session.

    Market analysts observed a significant reversal from weeks of sell-offs on both Wall Street and domestic exchanges, as investor confidence in AI capabilities grew. Notable performers included Xero, which recovered 5.5% of its value, while Technology One regained 14% of its 52-week losses. Megaport and Iress demonstrated particularly strong performances with gains of 9.8% and 9.6% respectively.

    WiseTech Global emerged as a standout performer, witnessing an 11% share price increase following its strategic announcement to eliminate 2,000 positions in favor of AI integration. This decision helped mitigate approximately half of the company’s losses accumulated over the previous six months.

    The consumer sector witnessed extraordinary movements with Woolworths reaching a 17-month high, adding $3.2 billion to its market capitalization following exceptionally strong half-year results. The supermarket giant’s shares climbed 13%, achieving a new 52-week peak that significantly contributed to the market’s overall performance.

    Resources companies demonstrated substantial strength with Fortescue Metals Group advancing 4.6% amid climbing profits, while BHP reached its own record high with a 3.2% gain. Tabcorp exceeded market expectations with its half-year results, propelling shares upward by 23.5%.

    Defense technology firm DroneShield reported soaring revenue and profits, resulting in a 12.6% share price increase. Treasury Wine Estates, proprietor of the Penfolds brand, recovered 3.1% of recent losses, while agricultural enterprises including Cobram Estate Olives and Ricegrowers posted gains of 3.3% and 2.3% respectively.

    Market analysts highlighted the significance of this broad-based recovery. eToro analyst Josh Gilbert noted regarding Woolworths’ performance: “While today’s result isn’t the definitive response to skeptics, it indicates a positive directional shift. The upgraded guidance demonstrates renewed confidence from management after two years of tempered expectations.”

    Investors now await forthcoming results from major companies including Qantas, Ramsay Health Care, and Super Retail Group, scheduled for release on Thursday, which will provide further indication of market trajectory.

  • Asian stocks gain after optimism about AI sends Wall Street higher

    Asian stocks gain after optimism about AI sends Wall Street higher

    Asian financial markets experienced broad gains during Wednesday’s trading session, propelled by renewed Wall Street momentum and sustained enthusiasm for artificial intelligence technologies. Japan’s Nikkei 225 index achieved a historic milestone, climbing 1.3% to reach 58,081.62 points despite ongoing trade complications with China.

    The market performance demonstrated notable complexity as export restrictions imposed by China on 40 Japanese entities failed to derail the overall bullish sentiment. Corporate reactions varied significantly with Subaru Corporation and Mitsubishi Materials Corporation recording share price increases, while Eneos Corporation and Sumitomo Heavy Industries experienced declines. Market analysts attributed the export sector’s strength primarily to the persistently weak Japanese yen, which benefited major exporters including Honda Motor Company and Panasonic Corporation.

    Regional benchmarks followed the upward trajectory with Australia’s S&P/ASX 200 advancing 1.1% to 9,122.50 points. South Korea’s Kospi index surged 1.7% to 6,069.36, while Hong Kong’s Hang Seng gained 0.3% and Shanghai Composite added 0.7%.

    The currency markets witnessed modest fluctuations as the U.S. dollar traded at 155.78 yen, representing a slight decrease from the previous 155.83 yen. This level remains substantially stronger than the 160 yen range observed several months earlier. The euro demonstrated minimal movement, trading at $1.1784 compared to $1.1779.

    Investor attention remained divided between market fundamentals and political developments, particularly President Donald Trump’s scheduled State of the Union address. Market participants anticipated reassurances regarding economic stability and policy continuity supporting domestic employment and manufacturing sectors.

    The current market enthusiasm stems from Tuesday’s Wall Street recovery where the S&P 500 registered a 0.8% gain, reclaiming nearly three-quarters of Monday’s substantial losses. This reversal was significantly influenced by Advanced Micro Devices’ 8.8% surge following announcement of a multiyear agreement to supply artificial intelligence chips to Meta Platforms. The comprehensive arrangement includes provisions for Meta to acquire up to 160 million AMD shares at nominal pricing, contingent upon procurement volumes.

    Industry analysts interpreted these developments as validating sustained confidence in AI investment, contrasting sharply with previous concerns about potential technology sector disruptions. Anthropic’s introduction of new AI implementation tools for corporate applications further reinforced optimism that artificial intelligence would complement rather than replace existing software ecosystems.

    Corporate earnings continued to exceed expectations with Keysight Technologies leading S&P 500 performers through a 23.1% rally, while Home Depot advanced 2% following better-than-anticipated profit and revenue reports.

    Fixed income markets maintained stability as Treasury yields held steady following improved consumer confidence indicators. Benchmark crude prices saw moderate increases with West Texas Intermediate gaining 45 cents to $66.08 per barrel and Brent crude advancing 47 cents to $71.24.

  • German chancellor lands in Beijing for inaugural China trip

    German chancellor lands in Beijing for inaugural China trip

    German Chancellor Friedrich Merz arrived in Beijing on Tuesday facing mounting pressure from domestic industries to address a record trade deficit with China, now standing at nearly €90 billion. This inaugural visit comes amid growing alarm from German business leaders who warn that the massive imbalance is fundamentally eroding the nation’s industrial core.

    Official statistics reveal a stark contrast in trade flows: German imports from China surged 8.8% in 2025 to €170.6 billion, while exports to China declined 9.7% to €81.3 billion. This widening gap has solidified China’s position as Germany’s top trading partner, surpassing the United States, but at a concerning cost to Europe’s largest economy.

    Jürgen Matthes, Head of International Economic Policy at the German Economic Institute, attributes this imbalance to what he describes as “massive Chinese subsidies” and currency undervaluation. “These price advantages cannot just come from more innovation and efficiency,” Matthes stated, highlighting how Chinese manufacturing overcapacity and deflationary pressures are creating what economists term a new “China shock” for European industries.

    The visit carries significant geopolitical dimensions beyond trade. Chancellor Merz is expected to urge Chinese leadership to leverage its influence with Moscow to help resolve the ongoing conflict in Ukraine. However, the substantial business delegation accompanying him signals that economic concerns will dominate the agenda.

    Germany’s automotive, machinery, and chemical sectors—traditional pillars of its economy—are particularly vulnerable to what industry federations describe as “distortions” in competition. The Federation of German Industries has specifically called for addressing export controls on critical rare earths, while engineering groups advocate for restoring “fair competitive conditions.

    This tension represents a strategic challenge to Germany’s longstanding “change through trade” approach with authoritarian nations. While Merz emphasized that Germany would continue its “de-risking” policy rather than pursue full decoupling, the visit underscores a fundamental reassessment of economic dependencies that have accumulated over decades of deepening ties.

  • Elusive Shein boss hails Chinese roots in rare public appearance

    Elusive Shein boss hails Chinese roots in rare public appearance

    In a rare public address, Shein founder Xu Yangtian (also known as Sky Xu) has committed substantial investment to China’s fashion industry while reaffirming the company’s deep ties to its manufacturing homeland. Speaking at the High-quality Development Conference in Guangzhou, the reclusive billionaire announced plans to invest over 10 billion yuan ($1.45 billion) to establish a high-tech fashion hub in Guangdong province.

    Xu emphasized the symbiotic relationship between Shein’s global success and Guangdong’s industrial ecosystem, praising the region’s ‘world-class business environment’ and ‘complete industrial ecosystem.’ His remarks, delivered to provincial officials and business leaders, marked a significant departure from his typically private profile and were widely circulated across Chinese social media platforms.

    The investment pledge comes despite Shein’s strategic distancing from China in recent years, including its headquarters relocation to Singapore and exploration of stock market listings in New York and London. Xu acknowledged Guangdong as ‘fertile ground’ for development, noting that local support has already enabled Shein to generate over 600,000 jobs in the region.

    The announcement occurs against a backdrop of increasing challenges for Chinese global retailers. Shein currently faces EU investigations regarding potential digital law violations, including the controversial sale of childlike sex dolls through its platform. The company has responded by removing the listings and banning responsible sellers while strengthening platform regulations.

    Additional pressures include heightened scrutiny from Western markets, particularly regarding environmental sustainability concerns and labor conditions within fast-fashion supply chains. The company’s expansion plans continue nonetheless, with new retail locations scheduled to open in French cities following delayed launches in December.

  • New US tariff starts at 10%, Trump administration working to hike it to 15%

    New US tariff starts at 10%, Trump administration working to hike it to 15%

    The United States commenced enforcement of a provisional 10% universal import tariff on Tuesday, creating significant uncertainty in global trade circles as the Trump administration simultaneously works toward implementing a more substantial 15% levy. This development follows President Donald Trump’s recent Supreme Court defeat regarding previous tariff mechanisms.

    President Trump initially executed an executive order on Friday mandating a 10% tariff with a 150-day duration, designed to replace comprehensive duties previously invalidated by the Supreme Court. However, in a surprising reversal on Saturday, the president declared his intention to elevate the rate to 15%. The U.S. Customs and Border Protection agency subsequently notified shipping entities Monday evening that collections would commence at the lower 10% rate, citing the absence of updated formal presidential documentation.

    A White House official confirmed to Reuters that Trump maintains unwavering commitment to implementing the 15% tariff under Section 122 of the Trade Act of 1974, though no specific timeline was provided for this anticipated increase. The official emphasized that the president’s determination remains unchanged despite the current implementation at the reduced rate.

    The policy shift has generated considerable confusion within international trade markets, with no official explanation provided for the discrepancy between announced intentions and implemented rates. Financial analysts from Deutsche Bank suggested the situation might clarify following Trump’s scheduled State of the Union address, while maintaining that effective tariff rates would likely decrease overall compared to pre-Supreme Court ruling levels.

    Market reactions reflected this uncertainty, with global stocks opening lower Tuesday despite the less punitive than expected tariff rate. U.S. markets demonstrated resilience however, with the Dow Jones Industrial Average climbing 0.65%, the S&P 500 Index advancing 0.5%, and the technology-focused Nasdaq increasing 0.8% by midday trading.

    The new tariff structure presents particular complications for the European Union, which previously negotiated a trade agreement predicated on a 15% base tariff rate. European Commission Trade Minister Maros Sefcovic acknowledged a “transitional period” regarding the temporary tariff but received assurances from U.S. trade officials that Washington would honor existing agreements.

    Legal experts note that Section 122 authorization permits presidential imposition of duties for up to 150 days to address “large and serious” balance-of-payments deficits. Trump’s order cited a $1.2 trillion annual goods trade deficit, a current account deficit representing 4% of GDP, and reversal of the U.S. primary income surplus as justification. However, numerous economists and trade attorneys contest the characterization of an imminent balance-of-payments crisis, suggesting the new tariffs remain vulnerable to legal challenges.

    Concurrently, the Trump administration issued warnings to international partners against retreating from previously negotiated trade arrangements, threatening significantly higher duties under alternative statutory authorities should countries disengage from existing agreements. Japan, the European Union, Britain, and Taiwan all indicated preferences to maintain their current trade deals with the United States.

    ING’s Global Head of Macro Carsten Brzeski observed that despite the 150-day limitation on current measures, trade uncertainty will likely persist given the potential for consecutive extensions. Meanwhile, China’s commerce ministry expressed willingness to conduct additional trade discussions with the United States while simultaneously urging Washington to abandon its “unilateral tariffs.”

  • Domino’s slashes ‘crazy’ cheap pizza deals, profits surge $60m

    Domino’s slashes ‘crazy’ cheap pizza deals, profits surge $60m

    In a dramatic financial reversal, Domino’s Pizza Enterprises, Australia’s largest pizza franchise, has reported a monumental $60 million turnaround in profits, crediting its decision to eliminate deep discounting strategies. The company announced an after-tax profit of $40.9 million for the half-year, a significant recovery from the $22.2 million loss recorded during the same period last year.

    The strategic shift involved a deliberate move away from what Chairman Jack Cowin termed ‘crazy price stuff’—aggressive coupon deals that, while driving high sales volume, ultimately eroded franchisee profitability. This recalibration resulted in a 1.6% dip in overall company sales, a consequence the company anticipated and accepted in its pursuit of sustainable earnings.

    With 3,518 stores spanning Australia, New Zealand, Asia, and Europe, Domino’s new focus is on ‘profitable promotions.’ While same-store sales declined in the ANZ region (4.7%) and Asia (6.1%), they saw a modest 1.3% increase in Europe. Crucially, the health of the franchise network improved markedly, with average store profitability rising from $98,600 to $103,000—the first such increase in three years.

    Analyst Josh Gilbert from eToro highlighted the significance of the strategy, noting that Domino’s is now prioritizing the value of each transaction over sheer volume. This approach ensures franchisees remain profitable, which in turn fuels further investment and store expansion. Supporting this, the company has also reduced its advertising spend and interim dividend to 21.5 cents per share, reflecting a disciplined financial management approach despite a 14% drop in its share price following the announcement.

  • SpiceJet Jaipur–Dubai flight cancelled after 11-hour delay; passengers left stranded

    SpiceJet Jaipur–Dubai flight cancelled after 11-hour delay; passengers left stranded

    A major operational disruption unfolded at Jaipur International Airport on Tuesday as SpiceJet Flight SG-57 to Dubai was abruptly cancelled following an extensive 11-hour delay, leaving hundreds of passengers stranded without adequate support. The incident has sparked serious concerns regarding airline communication protocols and passenger welfare management during service interruptions.

    The flight was originally scheduled for a 9:40 AM IST departure but underwent multiple rescheduling throughout the day before ultimately being canceled around 8:30 PM IST. This left travelers, including vulnerable groups such as elderly passengers, women, and children, in a state of uncertainty and discomfort. Numerous passengers reported spending the entire day within airport premises, with some forced to wait outside terminal buildings due to insufficient facilities.

    Affected traveler Ankur expressed his frustration: ‘I have been here since morning. Had they provided timely information about the cancellation, I would have returned home instead of enduring this prolonged wait.’ The lack of transparent communication from airline representatives emerged as a primary complaint among stranded passengers, who also reported insufficient assistance during the extended delay period.

    While unofficial sources cited operational and technical challenges as contributing factors, SpiceJet had not issued an official statement regarding the incident at the time of reporting. Flight tracking platforms including FlightRadar confirmed the eventual cancellation of the Dubai-bound service.

    The incident occurs amid ongoing analysis of the India-UAE air corridor’s capacity challenges, with recent studies indicating potential service gaps affecting significant portions of passengers by 2035. This event raises pertinent questions about airline accountability and emergency response mechanisms in the rapidly expanding aviation market between the two nations.

  • Poll: US tariffs on Chinese goods ‘too high’

    Poll: US tariffs on Chinese goods ‘too high’

    A comprehensive survey conducted by the Council on Foreign Relations in partnership with Morning Consult reveals significant American opposition to current tariff levels on Chinese imports. The study, conducted January 7-8 among 2,203 nationally representative adults, found that 49% of respondents consider existing tariffs “too high,” while only 6% believe they are too low.

    The research emerges amid escalating trade tensions, with a new 10% universal tariff implemented this Tuesday through Section 122 of the Trade Act of 1974. According to White House officials cited by the Financial Times, this temporary levy is scheduled to increase to 15% within 150 days.

    Political affiliation substantially influences tariff perceptions, with 67% of Democratic supporters viewing current Chinese tariffs as excessive compared to 46% of Republicans who consider them “about right.” The survey indicates three-fifths of Americans believe even a modest 10% tariff increase would adversely affect consumers, middle-class households, small businesses, and the broader economy.

    The report cites Yale Budget Lab data showing peak tariff rates reached 135% in April 2025 before moderating to 24% by January. Other analyses from the Center for Strategic and International Studies estimate combined sectoral and IEEPA tariffs currently average 47.5%.

    Despite divided opinions on trade volume with China—over one-quarter of respondents expressed no clear preference—the survey reveals strong bipartisan support for cooperation on specific issues. Sixty-five percent of Americans endorse collaborative efforts in technological innovation, educational exchanges, poverty reduction, manufacturing modernization, and global health research.

    The findings suggest generational differences in China perceptions, with 38% of adults aged 18-34 describing China as a friend or ally compared to just 11% of those aged 65 and above.

    China’s Ministry of Commerce responded to developments by calling for revocation of unilateral tariffs and expressing willingness to engage in candid consultations during upcoming sixth-round economic talks. This follows last week’s Supreme Court ruling that President Trump exceeded authority under the International Emergency Economic Powers Act when imposing sweeping tariffs.